Dupont Capital Management Corp boosted its stake in Intuit Inc. (NASDAQ:INTU) by 875.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,588 shares of the software maker’s stock after buying an additional 21,169 shares during the period. Dupont Capital Management Corp’s holdings in Intuit were worth $5,364,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Oakworth Capital Inc. boosted its position in shares of Intuit by 2,480.0% during the 3rd quarter. Oakworth Capital Inc. now owns 516 shares of the software maker’s stock valued at $117,000 after purchasing an additional 496 shares in the last quarter. Fort L.P. bought a new position in shares of Intuit during the 2nd quarter valued at about $120,000. Willingdon Wealth Management bought a new position in shares of Intuit during the 3rd quarter valued at about $121,000. Financial Gravity Wealth Inc. boosted its position in shares of Intuit by 65.0% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 609 shares of the software maker’s stock valued at $122,000 after purchasing an additional 240 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in shares of Intuit by 160.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 606 shares of the software maker’s stock valued at $124,000 after purchasing an additional 373 shares in the last quarter. Hedge funds and other institutional investors own 87.18% of the company’s stock.
Shares of INTU opened at $222.17 on Friday. Intuit Inc. has a one year low of $150.43 and a one year high of $231.84. The stock has a market capitalization of $57.39 billion, a price-to-earnings ratio of 48.87, a PEG ratio of 2.54 and a beta of 1.19. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.16.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 23rd. The software maker reported $0.32 EPS for the quarter, topping the consensus estimate of $0.23 by $0.09. Intuit had a net margin of 20.31% and a return on equity of 67.39%. The company had revenue of $988.00 million during the quarter, compared to analysts’ expectations of $952.67 million. During the same period last year, the company posted $0.20 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, analysts anticipate that Intuit Inc. will post 5.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Wednesday, October 10th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.85%. This is a boost from Intuit’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Tuesday, October 9th. Intuit’s dividend payout ratio (DPR) is presently 41.50%.
Several equities analysts have recently weighed in on the stock. Argus raised their price objective on shares of Intuit from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, October 4th. Evercore ISI upgraded shares of Intuit from an “in-line” rating to an “outperform” rating in a research report on Wednesday, October 3rd. Credit Suisse Group raised their price objective on shares of Intuit from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, September 28th. Oppenheimer raised their price objective on shares of Intuit from $224.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, September 28th. Finally, Barclays raised their price objective on shares of Intuit from $204.00 to $219.00 and gave the company an “equal weight” rating in a research report on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $224.29.
In other news, EVP Henry Tayloe Stansbury sold 31,396 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $211.65, for a total value of $6,644,963.40. Following the completion of the sale, the executive vice president now directly owns 27,186 shares of the company’s stock, valued at $5,753,916.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis D. Powell sold 4,554 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $215.05, for a total transaction of $979,337.70. Following the completion of the sale, the director now directly owns 4,083 shares of the company’s stock, valued at $878,049.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 622,236 shares of company stock valued at $137,883,071. Corporate insiders own 5.59% of the company’s stock.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
Further Reading: Institutional Investors
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